Listed here are a series of accounts that are numbered for identification. Accompanying this problem are columns in which you are to write the identification numbers of the accounts affected by the transactions described. You may use the same account in several answers. For each transaction, indicate which account or accounts are to be debited and which are to be credited. The first transaction is completed for you.

1. Cash

2. Accounts Receivable

3. Inventory

4. Equipment

5. Accumulated Depreciation, Equipment

6. Prepaid Insurance

7. Accounts Payable

8. Notes Payable

9. Paid-in Capital

10. Retained Earnings

11. Sales Revenue

12. Cost of Goods Sold

13. OperatingExpense

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Debit Credit (a) Purchased new equipment for cash plus a short-term note 1, 8 (b) Paid some old trade bills with cash (c Made sales on credit: Inventory is accounted for as each sale is made (d) Paid cash for salaries and wages for work done during the current fiscal period (e) Collected cash from customers on account (f Bought regular merchandise on credit (g) Purchased 3-year insurance policy on credit (h) Paid cash for inventory that arrived today (i) Paid off note owed to bank G) To secure additional funds, 400 new shares of common stock were sold for cash (k) Recorded the entry for depreciation on equipment for the current fiscal period (1) Paid cash for ad in today's Wall Street Journal (m) Some insurance premiums have expired